The Green Impact Exchange (GIX) announced today that it has filed an application with the Securities and Exchange Commission (SEC), aimed at establishing the first sustainability-focused stock exchange in the U.S.

Founded in 2022 by former NYSE executives, including CEO Daniel Labovitz, former head of regulatory policy at the NYSE, and Chief Operating Officer Charles Dolan, former Executive Floor Governor at the NYSE, GIX aims to be the first national securities exchange in the U.S. dedicated to the emerging global green economy, listing companies that make binding commitments to set, implement, measure, and achieve sustainability goals, and to provide investors with transparency about their progress.

According to GIX, the new exchange will help simplify the investment landscape for sustainability-focused investors, while helping companies access a growing pool of capital directed towards sustainable investment.

Labovitz said:

“Today’s filing is a major step forward for sustainable investors and capital markets. GIX will connect investors who care about sustainability with companies that are credibly committed to becoming and being sustainable.”

According to the SEC filing, GIX will require all companies that list on the exchange to comply with its Green Governance Standards, mandating an internal governance structure that provides transparency and accountability for the companies’ green and sustainability commitments.

Core “Green Governance Principles” underlying the standards include a public commitment by the company and its board to long-term sustainability, requirements to identify, engage, and communicate with key stakeholders in its sustainability commitments, having a short-, medium-, and long-term plan that will lead to operating the business sustainably, aligning the company’s business strategy with its principles and implementing policies and processes designed to achieve the sustainability commitments and goals, a commitment to regular public reporting and analysis of transparent, verifiable auditable sustainability metrics, and ensuring that the sustainability commitments are reflected in all aspects of the company’s business and operations.

The exchange intends to launch within 3-4 months after receiving SEC approval.

Dolan said:

“Capital markets have historically enabled companies to efficiently raise needed capital for business development and innovation. GIX will harness the power of markets to benefit the environment, improve investor protection, and drive economic growth as the world shifts toward a greener economy.”